Bed Bath & Beyond (NASDAQ:BBBY)‘s stock had its “neutral” rating reissued by Zacks in a research note issued on Friday. They currently have a $83.00 price objective on the stock. Zacks‘s price target suggests a potential upside of 12.03% from the stock’s previous close.
Zacks’ analyst wrote, “Bed Bath & Beyond posted third quarter fiscal 2014 results wherein, sales and earnings increased year over year. However, sales for the quarter were below expectations. We remain impressed by the company’s focus on undertaking strategic initiatives, including store expansion, enhancement of e-commerce capabilities and improvisation of customer services. Further, looking at the improving housing market we expect the company’s sales to grow at an impressive pace. However, we are concern about the stock’s margins which has been negatively impacted by a rise in coupon expenses and increase in net direct-to-customer shipping expense. Going forward, we expect this weakness to continue due to persistence of the above factors through the rest of fiscal 2014. Given the pros and cons, we maintain our Neutral stance on the stock.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura raised their price target on shares of Bed Bath & Beyond from $70.00 to $76.00 in a research note on Friday. They now have an “in-line” rating on the stock. Analysts at Argus raised their price target on shares of Bed Bath & Beyond from $82.00 to $85.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Bed Bath & Beyond from $70.00 to $87.00 in a research note on Tuesday, January 6th. They now have an “overweight” rating on the stock. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Bed Bath & Beyond has a consensus rating of “Hold” and a consensus price target of $72.41.
Bed Bath & Beyond (NASDAQ:BBBY) opened at 74.09 on Friday. Bed Bath & Beyond has a 52-week low of $54.96 and a 52-week high of $79.64. The stock has a 50-day moving average of $74.12 and a 200-day moving average of $66.52. The company has a market cap of $13.452 billion and a P/E ratio of 16.48.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Thursday, January 8th. The company reported $1.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.19 by $0.04. The company had revenue of $2.94 billion for the quarter. During the same quarter last year, the company posted $1.12 earnings per share. Bed Bath & Beyond’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that Bed Bath & Beyond will post $5.04 EPS for the current fiscal year.
Bed Bath & Beyond Inc is a chain of retail stores, operating under the names Bed Bath & Beyond (NASDAQ:BBBY), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon), buybuy BABY and World Market or Cost Plus World Market (World Market).
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